Niche Selection 3 Q’s

Summary:

Niche Selection 3 Q’s pattern is about applying three prequalification questions when selecting the niche to ensure that you have a market.

Name of the pattern:

Niche Selection 3 Q’s

When to use this pattern:

When (and before!) picking up a niche to enter

How to use this pattern:

When you think you see a niche that looks promising, answer three questions:

1. Does your target prospects experience pain, urgency, and EMOTIONAL need?
2. Does your prospect actively looking for a solution?
3. Does your prospect have few or none of perceived options?

You should be able to answer “Yes” to all three question for the niche to be a good option. According to Eben Pagan, that reverses the chances of success from 20/80 to 80/20.

Attribution:

I’ve heard it from Eben Pagan

Related patterns:

None

Related anti-patterns:

None

Comments and details:

While this pattern helps you to evaluate a niche, it does not necessarily mean that a niche, which failed this test, is bad. For example, think if you can target a more narrow part of it with a more narrow USP (unique selling proposition) where you’ll get three “Yes” on these questions.